DISQUS

markw · 1 year ago

Seems OK, but perhaps needs refined in the future.
Baca is correct, the State IS leaving alot on the table.

The 3rd to last paragraph states the Philippou is paid "reasonable project costs" Plus 60% of the UP.

Generally when costs are paid to a developer...the remaining deal is then 50/50.

One wonders If? this type of arrangement is offered to other developers as well ( or is it thee typical NM "clubby" type of deal? ).

THAT IS the 64 million dollar question so to speak, which really needs to be addressed.

thomasjames · 1 year ago

Pat Lyons is a crook, and now he wants to run for governor. Guess who he supports for Congress....Ed Tinsely. I hope somebody is taking note of all of this. Richardson is whispered to be a beneficiary of this land deal as well.....probably doesn't hurt that the Philippous gave $4600 to King Bill in his Presidential bid....I wonder how much they have given to Lyons for his gubernatorial bid.

crucesbob · 1 year ago

Excellent article - the details are correct and the effects are described as they happen. Unfortunately, as bad as this is, it is only one of several of these Business Development Leases in process now around the State.

These are the shenanigans that led to the Atty General declaring these activities illegal, and got a true audit of the SLO started. Hopefully these will cause Mr Lyons enough discomfort to get him out of the way altogether.

Thanks, Marjorie - this article is a real contribution to the effort

hemingway · 1 year ago

This is an outstanding and well-written article. Thanks, Majorie!!!!!!!!!!!!!!!!!!

markw · 1 year ago

Question becomes in a down RE market: What if the land only brings the original apparaisel?

Cozy as the State of NM is for "selected upper tier and clubby types"....the State likely would still pay the developer "reasonable costs", AND the people of New Mexico could end up with NO money for their land plus a bill for dough owed to a developer.

On Lyons....It's likely he forgot his original operational goals for SLO a long long long time ago.

The SLO is so side tracked with these special deals, they have forgotten their original mission.

One example is: they have well over 100,000 acres of non leased State School Trust Lands now.

I for one, have several client interested in leasing some of those for grazing...and the SLO has been very little and absolutely NO Help at all. Btw, that money supposedly goes for education on the grazing trust lands.

One thing is certain...the guy Never was a real rancher, or his office would not be treating the farmers and ranchers like they have on the afore to get State School Trust Lands leased out.